Sport cars usually cost more than other types of vehicles. They are heavy on horsepower and often light on fuel efficiency. These vehicles became popular when Ferdinand Porsche designed the Austro-Daimler Prinz-Heinrich-Wagen in 1910. They were the rage and people with money had to have the vehicle.
If a vehicle is expensive to make, then it is going to cost to fix it or replace parts. For these reasons, auto insurance can be expensive for sport cars. Read on to find out what things affect car insurance premiums for these vehicles.
Hard To Find Parts
High performance parts are often used for sports cars. These parts can be expensive and hard to find. Many parts for sports car are in limited production. If you get in a car accident, then your vehicle is going to cost more to fix. It is cheaper to fix a car with parts that are mass produced.
More Power Equals More Risk
Horsepower describes the performance of your engine. When a vehicle has extra power, adjusters consider you a risk. They are not sure how drivers will handle going from 150 horsepower vehicles to one that is 400 horsepower or more.
How Often Are You Driving The Vehicle?
Many people buy sport cars as a second vehicle, which means you will not drive it as much. Insurance companies consider these cars as a low risk when they are insured as a second vehicle. If a sports car is your main vehicle, then you will be on the road more. Constantly driving means you are more likely to get in an accident.
No Safety Features
There are a variety of sport cars from modern to vintage. Many of these vehicles do not have advanced safety features. For example, you are not going to find OnStar, airbags, and multi-point seat belts in a vintage Corvette. No safety features mean your car is more at risk of being damaged in an accident.
Higher Theft Risk
Car thieves are attractive to high ticket vehicles. If you have a sports car, then it is at risk of being taken. Insurance adjuster will charge you a higher premium because there is a higher chance that your car will get stolen.
It is common to want to own the vehicle of your dreams. If you are going to buy your dream car, then you should make sure it is insured with a company like Able Insurance Agency. A luxury vehicle is an asset, and you want to do everything to protect it.Share
12 April 2017
I bought my first car after I graduated from college. I was just about to become a teacher and needed a car to get me to and from work! I chose an auto insurance company my boyfriend used and stayed with them for many years. I always felt like I was paying too much for insurance, but I thought that was normal. One day a fellow teacher was talking about her auto insurance rate, and it was a fraction of what I paid! She told me that most companies offer discounts for teachers, and I soon learned that my company did not give me one. I switched to another company and now pay a lot less. I learned a lot about insurance during this time, so I decided to start a blog to share what I have learned to help anyone who needs the help!